MTN Nigeria has paid the sum of N50 billion to the federal government as part of moves to resolve the N780 billion fine imposed on it by the Nigerian Communications Commission (NCC).
In response to a request by the federal government, the telecom giant has also withdrawn its suit it instituted against the NCC at the Federal High Court, Lagos.
Ferdi Moolman, the CEO of MTN Nigeria said on Wednesday:
“This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome.”
He said the N50bn was paid “as a gesture of good faith and commitment to continued efforts towards an amicable resolution”.
Moolman further said:
“We are hopeful at this stage. Along with the authorities, it is clear that we are collectively committed to working towards a solution that is of mutual benefit to all parties. Our industry in Nigeria is an incredibly important example of the remarkable progress in ICT particularly as a much needed catalyst for socio-economic growth and development at this time.”
NCC had fined MTN N1.04 trillion for failing to deactivate 5.1 million unregistered SIM cards and later reduced the amount to N780 billion after the first round of negotiations.
However, MTN filed a suit as the December 31, 2015 deadline drew near, and later requested an out-of-court settlement.